Obama likes to say, these days anyway, that he is all for an “all of the above” strategy where US energy is concerned. Man, that sure sounds good doesn’t it? The trouble is, though, that Obama’s tall, does not match his walk. And, further the president’s repeated claim that we just cannot drill our way to lower fuel prices because we only have two percent of the world’s oil reserves is, well, complete BS! Jim Angle, of Fox News has a report.
In almost every energy speech, President Obama makes this statement: “We’ve got 2 percent of the world oil reserves. We use 20 percent.”
But there’s more to those numbers than meet the eye.
“It’s accurate but extremely misleading,” says Dan Kish of Institute for Energy Research, which is supported by the industry. “What he is talking about is oil we already have found.”
Misleading, he argues, because the president is pointing to “proven” reserves, which is some 21 billion barrels, but the U.S. is sitting on vast reserves of untapped energy that are far greater.
One federal agency says there’s 10 times more — 219 billion barrels more –, in what is called “technically recoverable” energy.
Another agency in the Energy Department says there’s 20 times that much, or 400 billion barrels more, and some in the industry claim there’s 60 times that amount, meaning some 1.4 trillion barrels in untapped resources.
That’s energy the government knows we have but that has not yet been drilled for. Industry experts argue it’s there for the taking.
“The trillion-plus barrels of oil in this country, more oil than in Saudi Arabia, is not counted by the president, and I think that’s misleading the American people,” John Hofmeister, the former president of Shell Oil, said.
With those kinds of resources, the U.S. could continue at its current consumption rate for 200 years without any imports, Kish of IER said. “And add Canada and Mexico? The numbers go off the chart.”
Aha, funny how facts can be manipulated isn’t it? And think how many more jobs could be created if we did pursue these reserves, and yes, we can and certainly should do so in a responsible fashion. For those who fear more drilling because of the environmental impact consider this. Obama has been dead set against off shore drilling, and has hamstrung drilling in the Gulf of Mexico. Yet, he went to Brazil not too long ago and said he wants to show Brazil how to drill offshore for their oil so that we can buy oil from them. HMMMMM, why not OUR oil, off OUR shores Mr. President?
Speaking of lies about energy Randy has Obama’s latest doozy
Good Freaking Grief! I think we need hip waders!